Reed’s (NYSE:REED) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Reed’s, Inc. develops, manufactures, and markets top selling sodas in natural foods markets and will is currently expanding its innovative, all natural, non-alcoholic beverages, candies and ice creams into the mainstream markets. Its non-alcoholic Ginger Brews are unique in the beverage industry being brewed from fresh ginger, spices and fruits. Award-winning gourmet product lines include: Reed’s Ginger Brews, Reed’s Ginger Juice Brews, Reed’s Ginger Candies and Reed’s Ginger Ice Creams. Additionally, the Company has acquired Virgil’s Root Beer and China Cola product lines. Reed’s products are sold through specialty gourmet and natural food stores, supermarket chains, retail stores and restaurants nationwide and in Canada. “
Shares of Reed’s (NYSE:REED) opened at 4.10 on Wednesday. The company’s market capitalization is $57.02 million. The stock’s 50 day moving average price is $4.03 and its 200-day moving average price is $3.54. Reed’s has a 1-year low of $2.25 and a 1-year high of $5.50.
Reed’s (NYSE:REED) last posted its quarterly earnings data on Thursday, October 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm earned $12.30 million during the quarter. On average, equities analysts predict that Reed’s will post…
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